Union Budget: No changes in Income Tax rates or slabs

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Last Updated: Thu, Feb 28, 2013 08:05 hrs

Finance Minister P. Chidambaram, who presented the Union Budget for 2013-14 in Parliament, on Thursday said there is no changes in Income Tax rates or slabs, Rs 2000 credit for those earning up to Rs. 5 lakh per annum.

"There is so case to revise direct tax rates and slabs," he said, while reading out his historic eighth budget.

There will be a surcharge on those earning above Rs. one crore.

Other highlights from the Union Budget 2013-14 are:

1. Cigarettes and SUVs get costlier

2. Mobile phones, priced above Rs 2000, get more expensive

3. Tax on motor vehicles up from 75 per cent to 100 per cent

4. Set Top box import duty raised

5. Gold duty free limit raised to Rs 50,000 for men and to Rs 1 lakh for women travellers

6. All AC restaurants will have to pay service tax whether or not they serve alcohol.